muses of the moment

June 30, 2009

I had a good laugh today

OK, I totally lost it when I read this:

Bernanke clearly regarded the bill’s intent as hostile to the institution he represents:

“My concern about the legislation is that if the GAO is auditing not only the operational aspects of the programs and the details of the programs but making judgments about our policy decisions would effectively be a takeover of policy by the Congress and a repudiation of the Federal Reserve would be highly destructive to the stability of the financial system, the Dollar and our national economic situation.”

Ummm..the head of the Federal Reserve just admitted they are playing a huge shell game (their policy) and don’t have anything to back up what is on their books. The emperor has no clothes and he doesn’t even pretend anymore that he does. We are doomed. The dollar is DEAD. Get out now.

This financial crisis, the end of the dollar and the coming hyper-inflationary depression are all the expected result of a fiat currency and fractional reserve banking system. This has happened in other countries throughout history, this should not be a surprise to anyone.

Quote taken from  Bernanke Threatens Economic Collapse If Fed Audited– By Aaron Dykes

Click here for the complete article.

Oh, and by the way, the US Constitution says that Congress CAN audit the Fed.

4 Comments »

  1. So gold is your ultimate hedge against an inflationary depression? What about the GLD etf? Thanks.

    Comment by C. D. — June 30, 2009 @ 11:29 am

  2. GLD exchange traded fund is an option. I would not put all my precious metals investing in one form. I suggest spreading it over coin, ETFs, and stocks.
    ETF is a paper asset and as such is not completely backed dollar for dollar by the metal. The fund will take admin fees and such. In addition, you are going through a broker, another person between you and your investment.
    Good investment for 401ks where the options for metal investing is limited.
    Thanks for the question, hope this helps.
    groovygirl

    Comment by totallygroovygirlfriday — June 30, 2009 @ 11:49 am

  3. Thanks. I spent last night reading all your posts from the beginning, and noticed that you watch various cycle predictions. What’s the easiest way to monitor the dips in gold?

    Comment by C. D. — July 2, 2009 @ 5:20 am

  4. I like the Elliott Wave Cycle Theory the best. But I do not day trade, I look at long range cycles. Usually 3-6 months at a time for 1/3 of my investments and long term (2-5 years) for the rest. Currently I buy gold-silver on what I think are dips and hold long term. This is a capital perservation strategy and I don’t freak if it goes a little lower after I buy.
    Thanks for reading,
    groovygirl

    Comment by totallygroovygirlfriday — July 2, 2009 @ 8:54 am


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